Gallagher expands UK public sector expertise

Gallagher | August 07, 2019

With a clear growth strategy in mind, global insurance broker Gallagher has made a further investment in its specialist UK public sector and education capabilities – a market it describes as “rapidly evolving.” The company is aiming to diversify its services and has made a host of internal promotions – with Peter Mason, already the firm’s executive director of public sector and education, to now lead the development of a significant strategic initiative to develop a range of risk financing solutions for clients. The hope is to engender a more collaborative approach and bring greater efficiencies to the table. “With the continued pressure on public sector funding, greater risk retention by clients and the emergence of a number of mutual risk-pooling facilities backed by central government, significant change is being driven through the public sector and education market,” said Tim Devine, managing director of UK public sector and education.

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Spotlight

HSP Group has come up with an engaging checklist of compliance questions one must follow to ensure a successful global operation. Read ‘Global Compliance Queries in Mind? HSP Group Comes to Your Rescue!’ to get a bird’s-eye view of the article. Some of the exciting topics that we have covered in our piece include the following:

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Vouch | December 27, 2022

Vouch, known as the 'Insurance of Tech,' recently launched the first insurance solution for Web3 companies. Under this, it will cover Web3 companies with insurance policies, including smart contract vulnerabilities, DAOs, crypto, and more. "The global insurtech market size is expected to expand at a compound annual growth rate (CAGR) of 51.7% from 2022 to 2030." - Grand View Research In the past year and a half, about 3,000 startups have raised almost $40 billion. Many of these are run by founders who are building strong companies that solve real problems for real users. Till now, Web3 companies had to settle for insurance that didn't meet their needs or make do with what they already had, which eventually slowed their growth. Vouch has become the most trusted partner by getting $160 million from the best companies in Silicon Valley. Its newest market includes Web3 companies, while Ansible Labs, Bitwave, Stardust, and Utopia Labs are some of its launch clients. Traditional policies tend to leave crypto out, but Vouch's Web3 Protection Policy covers that. In addition, the policy includes four coverages that can be expanded to cover key Web3 risks based on the needs of the client: Directors & Officers (D&O) insurance helps protect the company and the personal assets of its founders, officers, and board members from claims of wrongdoing, such as misrepresentation or breach of fiduciary duty, as well as the costs of responding to or defending against the claims. Errors and Omissions (E&O) insurance protects the company when a customer claims that the company's services caused them to lose money. Cyber: It helps pay for data breaches caused by mistakes, hacking, and social engineering. It also protects against privacy violations, security failures, and system failures. Crime: Helps protect the company from employee theft, forgery, and fraud, as well as some digital assets. Vouch has built a strong partner network to meet the needs of its Web3 customers in addition to its coverage. In the partner network, Fireblocks is responsible for direct custody technology, Silicon Valley Bank for banking, Upside for token management, and Tactic for accounting. AboutVouch Vouch Insurance is a new type of insurance platform for startups that is trusted by the startup industry's biggest names, including Y Combinator and Silicon Valley Bank. Everything has been designed for startups by experienced founders, from onboarding to claims. The company, which has offices in San Francisco and Chicago and whose fully digital coverage can be activated in minutes, assists clients in managing, mitigating, and avoiding risks.

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CORE INSURANCE

Relation Insurance Services Acquires Garrity Insurance

Relation Insurance Services | November 17, 2022

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Hourly.io Announces MGA Collaboration with Great American Insurance Group

Hourly.io | November 14, 2022

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